Rich Dad Poor Dad author Robert Kiyosaki has issued a stark warning that the U.S. economy is currently in a depression. He points to the subpar economic growth, with a 3.4% increase in GDP for Q4 2023 and a 1.6% rise in Q1 2024 as clear indicators. Kiyosaki asserts that a soft landing for the economy is unlikely.
Rich Dad Poor Dad Author Robert Kiyosaki Declares US Economy in a Depression
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Robert Kiyosaki Sees the American Economy in a Depression
The author of Rich Dad Poor Dad, Robert Kiyosaki, has warned that the U.S. economy is in a depression. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
Kiyosaki voiced his concerns on social media platform X Thursday about the state of the U.S. economy, describing it as being in a depression. He defined a depression as a period where economic growth is subpar, noting that while the economy is expanding, it’s not reaching its full potential. He pointed to recent statistics, mentioning a 3.4% growth in Q4 2023 and a 1.6% increase in Q1 2024 as indicators of this underperformance. Kiyosaki also highlighted the unlikelihood of the U.S. economy achieving a soft landing, signaling potential difficulties ahead.
The famous author has cautioned that the U.S. economy is teetering on the edge of a depression multiple times. In December of last year, he specifically criticized President Joe Biden, Treasury Secretary Janet Yellen, and Fed Chair Jerome Powell, predicting that their policies would not only lead the U.S. into a depression but also into war. Additionally, he dismissed the idea of a soft landing for the economy, asserting that a “crash landing” is far more likely.
In February, Kiyosaki reiterated his concerns, forecasting a looming global economic crash and pointing to vulnerabilities in the stock and bond markets. He has also persistently highlighted the growing national debt as a significant issue.
Do you think the U.S. economy is in a depression as stated by Rich Dad Poor Dad author Robert Kiyosaki? Let us know in the comments section below.
